Blockchain-based payment platform Bitmama, founded by Nigerian entrepreneur Ruth Iselema, has secured funding in a pre-seed round to improve financial transactions in Africa through the use of cryptocurrency.

Bitmama has evolved from a WhatsApp community for peer-to-peer crypto transactions to a Web3 platform with a suite of products including a multi-coin digital wallet, peer-to-peer crypto trading, global transfers, remittances, direct currency conversion, on/off-ramp transactions for traders, asset staking features, and crypto debit cards.

With the recent dollar/FX shortages experienced in major African markets and currency devaluation, Bitmama identified crypto cards as a solution to enable users to store and spend their cryptocurrency like a traditional debit card, providing much-needed cross-border relief.

Bitmama's Changera crypto debit cards have achieved remarkable success, recording rapid growth from 30,000 to over 100,000 users in Nigeria, Ghana, Kenya, and the diaspora.